The invention is a system and method for matching buyers and sellers (collectively the “system”).
Technologies such as the Internet and the World Wide Web have greatly enhanced the ability of prospective buyers and sellers to identify and communicate with one another. However, in many respects, information technology tools have been used to simply digitize and automate methods of conducting business without taking the opportunity to re-evaluate, re-engineer, re-design, and otherwise improve upon processes which were designed with substantially older technologies in mind. The application of innovative information technology does not inherently result in changes to underlying framework of a process. To the contrary, the implementation of flashy new technology can often mask opportunities to fundamentally improve the way business is conducted. The inertia of doing things a certain way “because that is the way that they have always been done it” is difficult to overcome, particularly when what is being changed pertains to the interactions of different people and organizations who may have no prior knowledge of each other. Changing the way parties interact with each other requires all of the parties to embrace the change in an organic and systematic manner. The prior art often fails to take advantage of new ways for different persons and organizations to interact with each other.
Many different types of websites exist to bring sellers and buyers together, but almost all such sites involve a certain degree of needless inefficiency. Despite the various technical bells and whistles that may be implemented on a particular website, the majority of sites operate from a purely “supply” perspective rather than a “demand” perspective. For example, in the context of the real estate business, websites typically provide users with access to available listings that are available “for sale” or “for lease.” After the listing is uploaded, the seller is then typically relegated to the role of waiting for responses or spending resources in an effort to drive more prospective buyers to the listing. The role of the buyer is similarly unsatisfying, as a listing may not address all of the prospective buyer's criteria for a desirable transaction and thus such websites can force a prospective buyer to waste time contacting prospective sellers in situations where the asset in question is ultimately of no interest to the prospective buyer. Instead of simply displaying attributes that are believed to be important to the seller in a “supply” perspective, it can be advantageous to allow prospective buyers to drive the process from a “demand” perspective because it is the attributes desired by the buyer that will ultimately determine whether or not a transaction will occur between the two parties. This also allows the seller to better focus on the attributes most important to the potential buyer. Focusing exclusively or even primarily on the “supply” perspective is in many instances an inefficient way to bring buyers and sellers together. The overemphasis of a “supply-side” focus is particularly pronounced in the context of real estate transactions and other types of non-commodity transactions where the assets are unique and there are potentially manner different attributes or combinations of attributes that are important to the buyer.
Another weakness of online transaction systems is that they tend to focus narrowly on consummating a particular transaction rather than establishing and developing ongoing connections between parties that can prove valuable beyond the scope of an individual transaction. In the business world, ongoing relationships are often as important if not more important, than the specific transaction. In many contexts, who you buy something from is just as important if not more important than what is being purchased. Despite the importance of business relationships in shaping a transaction, in many contexts, there is no effort to match people instead of assets.